Google takes advantage of Irish tax law to cut its tax bill by billions
By: Academix Tax Planning Views: 9736 | Comments: 0 | Votes: 0
Google Inc. cut its taxes by $3.1-billion in the past three years using a technique that moves most of its foreign profits through Ireland and the Netherlands to Bermuda. Google's income shifting -- involving strategies known to lawyers as the "Double Irish" and the "Dutch Sandwich" -- helped reduce its overseas tax rate to 2.4%, the lowest of the top five U.S. Treasury Department. Ms. More